F1 Team Builds EV Prototype for Mercedes-Benz

    • Daimler AG used experts from its Formula 1 racing team to produce an electric vehicle.
    • The Mercedes-Benz prototype will compete with Tesla's car models.

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Daimler AG, the parent company of Mercedes-Benz, used experts from its Formula 1 racing team to produce an electric prototype to compete with Tesla.

The Vision EQXX, which debuted at the 2022 CES Show, can be driven for more than 621 miles on a single charge and has a battery smaller than Mercedes-Benz’s flagship EV, the EQS.

Engineers from Daimler’s Mercedes-Benz F1 team developed the prototype in just 18 months.

Mercedes-Benz will integrate the prototype’s battery technology in the company’s compact cars starting in 2024, putting the expertise of its F1 team to use for a large consumer project.

The company isn’t the only luxury car maker using F1 to develop new vehicles.

  • Aston Martin announced a plan in September to build F1’s first “smart” facility in England for between $207 million and $276 million.
  • The 400,000-square-foot campus will house Aston Martin’s entire manufacturing system and an F1 simulator.

Underwhelming Numbers

Daimler generated $45.3 billion in revenue in Q3 2021, compared to $45.5 billion for the same period the year prior. About 578,000 units were sold during the quarter, down from 773,000 units sold in Q3 2020.

The automaker’s lukewarm quarter is the product of the ongoing semiconductor shortage and supply chain constraints plaguing tech industries around the world.